London has been ranked second as the top city for innovation, behind Boston which clinched first place.
According to global site selection advisory Hickey’s 2020 Global Innovation Hubs report, Boston took the top spot due to its growing biotech industry, strong start-up culture and educational and healthcare networks.
London was noted for its growing fintech sector, which is expected to “quickly catch up to its American counterparts”, the report said.
San Francisco, Los Angeles, San Jose and New York rounded out the top six, respectively.
North America was a “clear leader in global innovation”, with 12 of the top 25 cities listed in the region.
Berlin, Paris, Vienna and Copenhagen were also named in the top 25.
Hickey managing director David Hickey said: “Although people often associate fast-growth businesses with emerging markets, our index reveals that well-established locations such as London and Paris are just as conducive to innovation – usually as a result of the complex business ecosystems that have grown up around them.”
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